I just dug into @prism_lp considering it's becoming "cheap" but I found out it's not that bright


The idea is amazing: you hold 1 ethereum:0xbd3ab5859f244cc9f51ee0ca755c5cf663d80040, you get 1 NFT, and this NFT accrues value from the whole LP position
The bull case is around Dstable stablecoin yield on Aave and Spectrum fees, which is an index basket. Most of the fees from them are used to buyback PRISM
The thing is... Dstable sits at $655 supply, while Spectrum is at $300. The only thing really printing revenue right now is the PRISM LP
Also, they have 3 websites for Prism, Dstable, and Spectrum, and all of them look vibecoded and sit on poor domains
The idea is amazing, but I'm not bullish on their product adoption, and right now the only thing accruing value is the LP itself, which is not sustainable (remember Loudio?)
That said, maybe we'll see another run. It's still a good ponzinomics
ETH-0.15%
AAVE0.52%
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